Home Online Learning Mark Cuban ‘Proud’ to Pay Hundreds of Millions in Taxes

Mark Cuban ‘Proud’ to Pay Hundreds of Millions in Taxes

Mark Cuban ‘Proud’ to Pay Hundreds of Millions in Taxes

It is Tax Day.

Even in the event you’ve waited till the final day to file your taxes, you are not alone — thousands and thousands of individuals will file their tax returns at the moment, together with billionaire businessman and 13-year “Shark Tank” staple, Mark Cuban.

Cuban took to X, previously Twitter, on Sunday to reply a query posed by a consumer who asked if Cuban pays greater than the required quantity of taxes.

“I pay what I owe,” Cuban posted, including that on Monday, he would wire switch $288 million to the IRS.

Mark Cuban. Photograph by Mike Stobe/Getty Photos

Cuban additionally wrote that it was “unreal” to deal with that amount of cash.

“By no means in my wildest goals did I believe I’d be right here,” he stated.

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Like Cuban, a spate of Individuals will file their taxes on Monday. IRS Commissioner Danny Werfel informed CNN Enterprise that the IRS acquired greater than 100 million returns as of Friday and expects to obtain “tens of thousands and thousands extra returns” by the deadline.

“We’re seeing a flurry of tax returns coming in through the last hours,” Werfel acknowledged.

Taxes are due by 11:59 p.m. at the moment in individual-specific time zones, with just a few exceptions.

The IRS revealed on Monday that Individuals who filed from January by way of early April acquired greater than $200 billion in refunds, with the typical refund being $3,011 — up from the $2,878 common final 12 months.

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How one can File a Tax Return on Deadline Day

For these scrambling to file their taxes Monday, the IRS has free assets accessible, together with Direct File, a program piloting in 12 U.S. states this 12 months that permits taxpayers to file instantly with the IRS. New York, California, Florida, Texas, and Washington are all states coated by Direct File this 12 months.

These with incomes of $79,000 or much less can file taxes totally free by way of a trusted IRS Free File associate, together with TaxAct, FileYourTaxes, and FreeTaxUSA.

Anybody who wants extra time to file has the choice of requesting an extension by at the moment that pushes the deadline six months forward to October 15. The extension solely applies to the submitting, to not the stability — so even with an extension, taxpayers nonetheless must pay what they owe by the April 15 deadline or face added late charges and penalties.

The IRS predicted that about 19 million Individuals will file for an extension this 12 months.

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